The Naira closed the week on a positive note, appreciating by 4.52 kobo against the U.S. dollar in the official market on Friday, according to data from the Central Bank of Nigeria (CBN).
The local currency traded at N1,534.72 per dollar, marking a modest 0.05% gain from Thursday’s rate of N1,534.79.
Earlier in the week, the Naira saw slight fluctuations, trading at N1,535.62 on Wednesday and N1,535.24 on Tuesday, reflecting minimal losses.
The trading week had opened on Monday with a marginal 20 kobo decline.
Despite the small gains and losses throughout the week, analysts note that the Naira has shown relative stability amid ongoing efforts by the CBN to manage exchange rate volatility.
(NAN)
